NEW YORK (TheStreet) -- DragonWave, Inc. (DRWI) shares continue their climb on Monday, up 6.7% to $2.06 on heavy volume, resuming the gains it experienced on Friday after the company's price target was upped to $3 from $1 by analysts at CIBC.
The broadband wireless psuedowire developer has already eclipsed its three-month daily average volume of 288,000 shares, moving 2.1 million shares so far today
The stock closed trading Friday up 14.5% following the upgrade.
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TheStreet Ratings team rates DRAGONWAVE INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate DRAGONWAVE INC (DRWI) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its poor profit margins and generally disappointing historical performance in the stock itself."